Accounts > 2018 > 41
WASSCE
Use the following information to answer questions 40 and 41.
| ₦ | |
| Net profit | 17 460 |
| Capital Account: Taiwo | 50 000 |
| - Obi | 10 000 |
| Salary - Obi | 1 500 |
| Interest on capital | 5% |
| Interest on drawings | 4% |
Profit sharing ratio is 3 : 2 for Taiwo and Obi respectively.
Obi's share of profit is
A.
₦8,960
B.
₦7,404
C.
₦4,936
D.
₦3,296
Answer: C
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